Second Economic Development Zone Approved

The second project was authorized in Guatemala to install a Special Public Economic Development Zone, which will require an initial investment of $16 million and will be located in Pajapita, department of San Marcos.

Tuesday, October 22, 2019

"Puerta del Istmo" is the name of the industrial park, which will be on a 160-hectare site and will house industrial and logistics companies. In its first phase it will require a $4 million investment and in its second phase it plans to invest $12 million.

You may be interested in "Incentives That Work"

Managers of the Free Trade and Industry Zone (Zolic) reported that on September 30 was when they authorized this new project, which will operate in the proximity of the border Tecun Umán.

Fermín Colina, president of Puerta de Istmo, S. A., explained to that "... a US$4 million investment has been made, as well as the second investment of US$12 million, and in the short term of 5 to 10 years is expected to reach US$250 million in investments."

Also see "Tax Benefits for Companies in Special Zones"

Colina added that "... Plans are to start operations next year. At the moment 5 thousand square meters of Bodegas are available, and it will be extended in four more phases in five years."

The first Zone of Special Public Economic Development approved in the country was Michatoya Pacífico, which received its endorsement in April 2019 and is located on the Highway to Puerto Quetzal, Escuintla.

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More on this topic

Economic Development Zones: Projects Move Forward

July 2019

Puerta del Istmo, Centro Logístico Quetzal and ZDEEP Piedras Negras, are the projects advancing in Guatemala in the process of becoming Zones of Special Public Economic Development.

After the Santo Tomás de Castilla Free Trade and Industry Zone (Zolic) approved in April the first Special Public Economic Development Zone (ZDEEP) called "Michatoya Pacifico", which is on the Puerto Quetzal, Escuintla Highway, there are three other projects that have begun the process to establish.

Regulations for Collection in Development Areas

July 2019

In Guatemala, the regulations governing the tariffs to be applied to users, administrators and economic zones have come into force as part of the new legislation on Special Public Economic Development Zones.

The tariffs that will be applied according to the categories established in the regulation, published in the Diario de Centroamérica on June 28th, were effective.

Incentives That Work

March 2019

In Guatemala, five private projects to build economic development zones are already in the process of being processed, only two months after the regulation defining the fiscal benefits to develop them came into force.

On February 4, the Law on Special Public Economic Development Zones (ZDEEP) came into effect, which provides for tax benefits consisting of a 10-year exemption from 100% income tax, as well as the temporary suspension of taxes associated with imports, among others.

More Companies in Free Trade Zones

January 2019

The sector guild in the Dominican Republic approved the installation permits for 11 new companies, and it is expected that the companies will invest around $20 million.

From the CNZFE press release:

Santo Domingo - The National Council of Free Trade Zones (CNZFE) announced yesterday the approval of permits for the installation of a park and 11 new companies in free trade zones, which will generate 976 direct jobs.

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